Home Price Cuts Hit a Four-Year High as Sellers Offer Concessions
The market's pricing power has moved from sellers to buyers, and the September data show it in one number: 20.8% of US home listings carried a price cut last month, the highest share in a single month since October 2022 and the strongest September reading since 2018, according to Realtor.com. Sellers are not just trimming asking prices. They are increasingly paying some of the buyer's closing costs or buying down the mortgage rate to get a deal done, a shift Realtor.com senior economist Jake Krimmel describes as sellers doing more to meet buyers halfway.
Key Takeaways 20.8% of US listings had a price reduction in September, a four-year high and the first month this year with price cuts above…
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